The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers of Ghana (COCMAG) have agreed to hold quarterly consultation sessions with industry stakeholders.
These sessions will primarily discuss major innovations in cement manufacture, bagging, and distribution.
The major goal is to address critical concerns in the sector, particularly prior to individual businesses’ announcements of ex-factory pricing adjustments.
The conference, called by Minister K.T. Hammond, was to address concerns about growing retail cement prices and their negative economic impact.
The Minister expressed concern over the selling of a bag of cement for ¢95.00 in various places, including the Accra/Tema Municipalities. He asked the industry to notice the wider implications of price increase.
He underlined the importance of rigorously monitoring and controlling the appropriate ex-factory price margins of distributors and retailers throughout the nation.
To keep prices stable, crucial steps were agreed upon, such as individual firms publicizing suggested distribution and retail pricing for various grades of products in their distribution zones.
Furthermore, enterprises are required to enforce quality standards and weights of cement goods in order to prevent the manufacturing and sale of inferior items.
Stakeholders will work together to investigate the feasibility of implementing a unified cement pricing formula, providing uniformity in retail pricing across the country, and taking into account significant cost considerations.
The MoTI informed the public that these and additional steps, as considered appropriate, would be adopted in partnership with the Ghana Chamber of Cement Manufacturers to guarantee fair and acceptable pricing modifications.
Watch the video below: